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Blame them!

Blame them!

Despite Minister of Finance Chris Sinckler’s protestations of innocence, it has emerged that the Ministry of Finance is not entirely blameless in the delay of a settlement to the Colonial Life Insurance Company Ltd (CLICO) and British American Insurance Company (BAICO) Ltd matter, at least in the case of the BAICO transfer. Barbados TODAY investigations […]

Not our fault!

Not our fault!

Minister of Finance Chris Sinckler is distancing himself and the Freundel Stuart administration from any delays associated with the restructuring and bailout plan of the collapsed British American Insurance Company (BAICO) Ltd. and Colonial Life Insurance Company Ltd. (CLICO). In tabling an amendment to the National Insurance and Social Security Bill 2017 in Parliament Tuesday […]

Still no joy for CLICO policyholders

Still no joy for CLICO policyholders

Frustration is said to be mounting among CLICO policyholders as they await the Supreme Court’s final approval of the transfer of their policies to a new company, Resolution Life Insurance Limited (ResLife). In a statement Thursday, the Barbados Investors and Policyholders Alliance (BIPA) revealed that all parties concerned had met and finalized the details of […]

Pan-American Insurance looking up, says King

Pan-American Insurance looking up, says King

At least one insurance company here is satisfied that confidence in the sector is bound to rise with Government’s decision to provide close to $30 million in its 2017-2018 Estimates of Revenue and Expenditure to policyholders of the failed CLICO International Life and its sister agency British American Insurance Company (BAICO). General Manager of Pan-American […]

CLICO relief

CLICO relief

The organization which represents policyholders and investors in the failed CLICO International Life (CIL) has welcomed Government’s allocation of close to $30 million in its 2017-2018 Estimates of Revenue and Expenditure for the payment of the first tranche of their $300 million debt, which is to be repaid over ten years. Based on the Estimates […]

CLICO and BAICO payments soon

CLICO and BAICO payments soon

Thousands of policyholders of CLICO International Life Insurance Limited and British American Insurance Company (BAICO) seem set to receive their long-awaited pay out this year. High Court Judge William Chandler last month approved the transfer agreement between CLICO and the two companies which would take over its business, New Life Investment Company Inc (NLICO) and […]

Court rules on contract of former CLICO executive

Court rules on contract of former CLICO executive

After more than a decade and a half of delays, the High Court today ruled in the suit brought by former CLICO insurance executive Neval Greenidge against the company. The original application was filed in 2000 against CLICO Holdings Barbados Limited and CLICO International Life Insurance. However, in her decision handed down in the Number […]

Forgive me!

Thirty-year-old Toneal Omar Walrond of French Village made the appeal to the family of the victim, Evans Burnham. The late resident of Black Best, St Peter died at the Queen Elizabeth Hospital on July 8, 2011 following an altercation in which he sustained a fractured skull and other injuries after being hit in the face several […]

Don’t blame me!

Don’t blame me!

Minister of Finance Chris Sinckler says he is very concerned about the rate at which the CLICO restructuring process is taking place, and he has therefore promised to give the matter his full attention to ensure a resolution by yearend “now that the Budget is out of the way”. Sinckler said he was disappointed that […]

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